North Dakota State Investment Board Buys New Position in Labcorp Holdings Inc. $LH

North Dakota State Investment Board bought a new stake in Labcorp Holdings Inc. (NYSE:LH) in the fourth quarter, HoldingsChannel reports. The fund bought 2,867 shares of the medical research company’s stock, valued at approximately $719,000.

A number of other large investors have also recently made changes to their positions in the company. Hantz Financial Services Inc. boosted its position in shares of Labcorp by 48.8% in the 3rd quarter. Hantz Financial Services Inc. now owns 122 shares of the medical research company’s stock valued at $35,000 after purchasing an additional 40 shares during the period. Advisor OS LLC boosted its position in shares of Labcorp by 5.4% in the 3rd quarter. Advisor OS LLC now owns 821 shares of the medical research company’s stock valued at $236,000 after purchasing an additional 42 shares during the period. Pinnacle Associates Ltd. boosted its position in shares of Labcorp by 3.9% in the 4th quarter. Pinnacle Associates Ltd. now owns 1,126 shares of the medical research company’s stock valued at $282,000 after purchasing an additional 42 shares during the period. Larson Financial Group LLC boosted its position in shares of Labcorp by 37.5% in the 3rd quarter. Larson Financial Group LLC now owns 154 shares of the medical research company’s stock valued at $44,000 after purchasing an additional 42 shares during the period. Finally, Covestor Ltd boosted its position in shares of Labcorp by 8.1% in the 3rd quarter. Covestor Ltd now owns 652 shares of the medical research company’s stock valued at $187,000 after purchasing an additional 49 shares during the period. 95.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LH. Piper Sandler upped their target price on Labcorp from $270.00 to $300.00 and gave the company a “neutral” rating in a research report on Tuesday, February 24th. Wall Street Zen raised Labcorp from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Morgan Stanley reissued an “overweight” rating on shares of Labcorp in a research report on Tuesday, February 17th. Robert W. Baird set a $334.00 target price on Labcorp in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. upped their price objective on Labcorp from $319.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, February 18th. Eight equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $308.00.

Insider Buying and Selling at Labcorp

In other news, EVP Der Vaart Sandra D. Van sold 548 shares of the stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $284.91, for a total transaction of $156,130.68. Following the completion of the transaction, the executive vice president directly owned 2,579 shares of the company’s stock, valued at approximately $734,782.89. This represents a 17.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Brian J. Caveney sold 1,500 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $286.31, for a total value of $429,465.00. Following the transaction, the executive vice president directly owned 30,107 shares of the company’s stock, valued at approximately $8,619,935.17. This trade represents a 4.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,656 shares of company stock valued at $4,524,961 in the last ninety days. Insiders own 0.84% of the company’s stock.

Labcorp Stock Down 0.7%

LH opened at $255.70 on Friday. The business has a 50 day moving average price of $263.99 and a two-hundred day moving average price of $265.59. The company has a quick ratio of 1.54, a current ratio of 1.73 and a debt-to-equity ratio of 0.68. The company has a market cap of $20.97 billion, a PE ratio of 22.65, a P/E/G ratio of 1.80 and a beta of 0.91. Labcorp Holdings Inc. has a 52 week low of $239.75 and a 52 week high of $293.72.

Labcorp (NYSE:LH) last posted its quarterly earnings data on Thursday, April 30th. The medical research company reported $4.25 EPS for the quarter, beating the consensus estimate of $4.09 by $0.16. The firm had revenue of $3.54 billion during the quarter, compared to the consensus estimate of $3.51 billion. Labcorp had a return on equity of 16.29% and a net margin of 6.66%.The firm’s revenue was up 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned $3.84 EPS. Labcorp has set its FY 2026 guidance at 17.700-18.350 EPS. As a group, research analysts anticipate that Labcorp Holdings Inc. will post 17.99 EPS for the current year.

Labcorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 11th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.72 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $2.88 annualized dividend and a yield of 1.1%. Labcorp’s dividend payout ratio is currently 25.51%.

Labcorp Profile

Laboratory Corporation of America Holdings, commonly known as Labcorp (NYSE: LH), is a global life sciences company that provides comprehensive clinical laboratory and drug development services. The company operates a broad network of laboratories, patient service centers and specialty testing sites to deliver diagnostic information and testing solutions that support patient care, clinical decision-making and population health initiatives.

Labcorp’s core businesses encompass clinical laboratory testing and pharmaceutical development services.